Gateway Investment Advisers LLC Has $73.30 Million Stake in Wells Fargo & Company (NYSE:WFC)

Gateway Investment Advisers LLC lifted its position in shares of Wells Fargo & Company (NYSE:WFC) by 21.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,512,559 shares of the financial services provider’s stock after buying an additional 265,573 shares during the period. Wells Fargo & Company comprises about 0.7% of Gateway Investment Advisers LLC’s investment portfolio, making the stock its 28th largest holding. Gateway Investment Advisers LLC’s holdings in Wells Fargo & Company were worth $73,299,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. increased its holdings in shares of Wells Fargo & Company by 7.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 75,246 shares of the financial services provider’s stock worth $3,610,000 after acquiring an additional 5,248 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in shares of Wells Fargo & Company by 10.0% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 13,645 shares of the financial services provider’s stock worth $655,000 after acquiring an additional 1,244 shares in the last quarter. Weiss Multi Strategy Advisers LLC raised its holdings in shares of Wells Fargo & Company by 56.7% during the 4th quarter. Weiss Multi Strategy Advisers LLC now owns 996,217 shares of the financial services provider’s stock worth $47,798,000 after buying an additional 360,635 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in shares of Wells Fargo & Company by 1.6% in the 4th quarter. Salem Investment Counselors Inc. now owns 20,651 shares of the financial services provider’s stock valued at $991,000 after purchasing an additional 321 shares in the last quarter. Finally, OPSEU Pension Plan Trust Fund grew its stake in shares of Wells Fargo & Company by 13.1% during the fourth quarter. OPSEU Pension Plan Trust Fund now owns 106,748 shares of the financial services provider’s stock worth $5,571,000 after buying an additional 12,367 shares during the last quarter. 74.01% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:WFC traded down $0.96 during mid-day trading on Thursday, reaching $37.64. 541,479 shares of the company traded hands, compared to its average volume of 22,834,908. Wells Fargo & Company has a 52 week low of $36.54 and a 52 week high of $60.30. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.80 and a quick ratio of 0.79. The firm has a market cap of $142.67 billion, a PE ratio of 8.02, a PEG ratio of 0.94 and a beta of 1.13. The company’s 50 day moving average price is $43.55 and its 200-day moving average price is $49.10.

Wells Fargo & Company (NYSE:WFCGet Rating) last released its quarterly earnings results on Thursday, April 14th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. Wells Fargo & Company had a net margin of 25.35% and a return on equity of 12.20%. The company had revenue of $17.59 billion for the quarter, compared to the consensus estimate of $17.82 billion. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Wells Fargo & Company’s revenue was down 5.2% on a year-over-year basis. On average, research analysts predict that Wells Fargo & Company will post 4.07 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 6th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date was Thursday, May 5th. Wells Fargo & Company’s dividend payout ratio is currently 20.79%.

In other news, EVP Kleber Santos sold 22,700 shares of the stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $44.44, for a total value of $1,008,788.00. Following the transaction, the executive vice president now directly owns 21,478 shares of the company’s stock, valued at $954,482.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is currently owned by insiders.

A number of brokerages have recently commented on WFC. BMO Capital Markets cut their price target on Wells Fargo & Company from $64.00 to $60.00 and set a “market perform” rating on the stock in a research note on Monday, April 18th. Citigroup upgraded shares of Wells Fargo & Company from a “neutral” rating to a “buy” rating and decreased their price target for the company from $58.00 to $56.00 in a research report on Monday, April 11th. Morgan Stanley cut their price target on shares of Wells Fargo & Company from $72.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, March 28th. Barclays increased their price objective on Wells Fargo & Company from $62.00 to $64.00 in a report on Monday, April 18th. Finally, StockNews.com initiated coverage on Wells Fargo & Company in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.62.

About Wells Fargo & Company (Get Rating)

Wells Fargo & Company, a diversified financial services company, provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. It operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.

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Institutional Ownership by Quarter for Wells Fargo & Company (NYSE:WFC)

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